Lens Protocol Surpasses Engagement Records on Blockchain-based Platform
Lens Protocol, a new social media platform based on the blockchain, has been gaining significant traction since the beginning of the year, according to Delphi Digital. In February 2023, the platform recorded an all-time high of 4.2 million transactions and 125,000 users, reflecting a substantial increase in monthly transactions and users.
Lens Protocol is an open-source social media graph that enables users can to own their data.
Users mint profile NFTs that record all of their content and engagement and leverage Content URIs that point to data storage services. pic.twitter.com/lINLYGvIVM
— Delphi Digital (@Delphi_Digital) April 30, 2023
Lens Protocol is not your average social media platform. Creators can allow other users to mint or collect their posts and comments as NFTs, which has been increasingly popular, with the number of collects or mints hitting an all-time high of 67.8K in February 2023. The engagement by users has also been setting new records, with an all-time high of 168K at the end of last month compared to 18-20K engagements at the beginning of the year.
To handle all this growth, Lens recently announced an Optimistic L3 scaling solution called Momoka. It will process most transactions off-chain, relying on its data-availability layer, which will help the platform to process transactions at hyperscale. This hyperscaling solution is designed to support the next generation of web3 social users.
The platform is still in closed beta with an allowlist for new signups, but it is ready for an influx of users when the platform is open to all. Lens Protocol is rapidly becoming a popular destination for those interested in the blockchain and the social media world, offering a new level of creativity and engagement for creators and users alike.
As the blockchain and cryptocurrency markets continue to expand and mature, platforms like Lens Protocol will likely continue to grow in popularity, providing an alternative to traditional social media platforms. The success of Lens Protocol reflects the significant growth potential of blockchain technology and the exciting possibilities it offers for the future of social media.
Read more:
- Lens Protocol Launches Beta Version Of Bonsai To Enhance DApp Transactions
- Lens Protocol Rebrands Layer 3 Scaling Solution To Momoka
- Lens Protocol Launches Beta Version Of Bonsai To Enhance DApp Transactions